The United Kingdom is one of the world major hubs for the gambling industry. VigoLex team is confident that the process of obtaining a gambling license in Britain is clear, the prices are reasonable, and the regulation is pedantic in a British manner.
Initially the United Kingdom outlawed gambling industry till 2005. Since adoption of the Gambling Act and establishment of the Gambling Commission – UKGC an official gambling license can be obtained in the United Kingdom
Each of the above gambling types is divided into many categories with their prices, requirements, etc. The detailed information about this can be found on the official website of UKGC.
Basically, in the United Kingdom, depending on the type and the specifics of your gambling activities, you need to obtain one of 3 types of licenses (if not all at once):
- operating license – a license for the direct conduct of a gambling business;
- personal management license – a license for persons who provide certain services for gambling (for example, strategists);
- personal functional license – a license for individuals who work in the gambling industry (for example croupier license).
In addition, if you provide advertising, promotion and other services for remote gambling (online or otherwise), and target such advertising to consumers in the United Kingdom, you will also need to obtain a gambling license. If there is no consumer’s targeting in the United Kingdom, no license is required.
Advantages of the license of the United Kingdom
- Confidence in the future: the United Kingdom is a country with a convenient legal system and fair justice. Here you know exactly what consequences the actions will have, therefore, you can reasonably plan your business.
- Pricing policy: in the United Kingdom everything is pedantic in a British manner: on the official website of the regulatory authority – UKGC – there is a clear progressive scale of the license fee depending on the level of income of gambling business and the license type.
- Market advantages: incorporation in the United Kingdom is prestigious. There is no need to establish several companies to make it more convenient to work with contractors and suppliers, build incorporation schemes, etc.
How to obtain the license of the United Kingdom
You can apply for the license of the United Kingdom online through the UKGC’s website https://www.gamblingcommission.gov.uk. Based on the experience of VigoLex team, the period for consideration of your application and issuance of a license takes about 4 months. In order to apply, you need to:
- prepare the package of documents – for different companies the package of documents will be different, on the average it includes about 25 documents;
- ensure local presence within the UK.
- pay the registration fee – the fee amount depends on the gambling type and the license type and varies from EUR 950 to EUR 16.000.
The license of the United Kingdom is issued for the period of 5 years.
VigoLex pays your attention to perhaps one of the main features of the license of the United Kingdom: it is a prestigious but expensive one. The annual cost of a gambling license of the United Kingdom can vary depending on the gambling type and the license type, from EUR 1.000 to EUR 40.000. In addition, the business needs to be serviced: according to VigoLex, servicing the gambling business in the United Kingdom – filing reports, tax issues, communication with UKGC, etc. – will cost about EUR 1.200 per month.
Finally, of course, we cannot forget about taxation: the corporate income tax rate in the United Kingdom is 19%. In addition, gambling businesses are obliged to pay the additional fee of 15% of their income.